Need Help?
Need professional advice for your consent to let with Hodge Life? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Frequently asked questions relating to Hodge Life consent to lease
- I am currently choosing a mortgage as first time buyer and considering Hodge Life with my financial adviser. Suppose I choose a three year fixed rate I live at the property and after 2 years, an opportunity comes up which involves a relocation necessitating moving out the area. In the case Hodge Life grants me consent to let,does the interest rate load the interest rate?
- I have a Hodge Life mortgage with my twin and am looking to leave and get a new mortgage with my partner. How would I proceed with letting out my room? Is consent to let necessary by Hodge Life? My twin will remain in the flat
- My partner and I a flat in Manchester and will be relocating to Amersham at the end of January. I have a letting agency and tenant lined up. I was proposing to leave everything as it stands as I'm afraid Hodge Life will say I have to change my mortgage rate for buy to let which is not financially feasible. I appreciate that it would be preferable to obtain a consent to let via Hodge Life but am afraid if I open Pandora's box it would lead to no end of problems
- In 2003 I was issued with permission by the local council and my mortgage provider Hodge Life to convert a small barn into a granny annex, conditional on it not being disposed of separately from the main property. My parents passed away some years ago and I would now like to rent it out with consent to let from Hodge Life. Do you think this can be obtained?
- Due to job opportunities I will be moving to Wales and would like to rent the flat temporarily, please let me know what steps I need to take in order to get consent to let from Hodge Life?
- There is a chance of me going to Hong Kong for twelve months with work. Planning on taking the husband with me and hoping to rent our UK home in the meantime on a temp basis to make matters more cost effective. I was just enquiring about the processes of getting a 'consent to let'
- I am potentially moving in with my fiance at his home and would like to rent out my property that I acquired last autumn, I'm just not sure of the process as my property is my first home. What do I need to do to obtain consent to let from Hodge Life If I obtain consent will my mortgage payments go up?
- I would like to find out more about how to get consent to let on a property. In particular what is the procedure for consent to let if you have a residential mortgage with Hodge Life
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supplemental the above Hodge Life consent to let Info
Tax and Legal
There may be various tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
Insurance
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to notify them could trigger your insurance becoming invalid. As a minimum you should ensure that you are covered for any third party liability in respect of injuries to your tenant whilst at your property
Leasehold properties
If your property is leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Hodge Life your property may be repossessed